Massachusetts MA Homeowners Insurance
What Is Homeowners Insurance?
 The Basics
If you have a mortgage on your home, your mortgage company most likely requires you to carry Homeowners Insurance on your residence. Homeowners Insurance covers two very important things:
- Property insurance to cover one's residence (real property) and personal property (furniture, belongings, etc).
- Personal Liability protection to cover the insured's legal responsibility for bodily injury to others and property damage.
The Coverage Parts
A typical Homeowners Insurance policy has a few different sections of coverage. Most likely, one's policy would include the following coverage parts:
Section I
- Coverage A - The Dwelling
This section provides property insurance on the owner-occupied dwelling used for residential purposes. According to the policy, this section covers "against loss to any dwelling or structure attached to the dwelling. Materials and supplies located on or next to the described premises used to construct, alter or repair the dwelling or other structures on the residence premises".
2. Coverage B - Other Structures
This section of coverage provides a specific limit of insurance for detached structures on the residence premises. Detached structures such as garage, storage shed, cabana, tennis court, green house, driveway, barns, flagpoles, stalls, swimming pools, boat houses or boat slips, docks, piers and fences are considered to fall into the category of "other structures".
3. Coverage C - Unscheduled Personal Property
This section of coverage protects all the unscheduled personal property of any insured while it is located in any part of the world. It also covers personal property that is used or borrowed by the insured. This section of coverage also covers personal property while in a motor vehicle and the personal property of an insured's child who is away at college, subject to certain limits. Coverage C does not provide coverage for certain things such as autos, recreational vehicles, pets and a few others.
4. Coverage D - Loss Of Use
This coverage part pays an insured if the insured incurs additional living expenses, beyond normal living expenses, while living at another location if the residence premises is unavailable due to a covered peril. It includes additional living expenses as well as fair rental value. This part will be paid to an insured for no more than 2 weeks.
Section II
1. Coverage E - Personal Liability Coverage
This coverage part protects an insured if a legal suit is brought against him or her as a result of legal responsibility for bodily injury or property damage to others. This will protect an insured if another person is injured on or off any insured location.
2. Coverage F - Medical Payments To Others Coverage
This coverage part will provide payment of medical expenses for someone that has undergone bodily injury as a result of the personal activities of any insured or as a result of the insured location. Limits do apply to the extent of the medical expenses covered. This coverage applies only to a person on the insured premises with the permission of the insured and a person off the insured premises if the injury is caused by the personal (non-business) activities of the insured. This coverage part also covers against injury caused by an animal owned by the insured.
Other Important Notes
There are many other endorsements and additional coverage's that can be added to a Homeowners policy by the insured. Please inquire about what your given circumstances require.
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